Adell Harriman & Carpenter Inc. Grows Holdings in Eaton Corporation, PLC (NYSE:ETN)

Adell Harriman & Carpenter Inc. increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,680 shares of the industrial products company's stock after buying an additional 1,065 shares during the period. Eaton comprises about 1.2% of Adell Harriman & Carpenter Inc.'s holdings, making the stock its 23rd largest position. Adell Harriman & Carpenter Inc.'s holdings in Eaton were worth $15,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after buying an additional 99,291 shares in the last quarter. FMR LLC lifted its holdings in Eaton by 1.2% in the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after purchasing an additional 182,455 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Eaton by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after purchasing an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after purchasing an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Eaton by 8.8% in the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after purchasing an additional 368,241 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ETN shares. Jefferies Financial Group reduced their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barclays upped their target price on shares of Eaton from $306.00 to $323.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. Evercore ISI upped their target price on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Morgan Stanley reduced their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, BNP Paribas Exane started coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $369.06.

Eaton Trading Up 1.1%

ETN traded up $3.79 on Friday, reaching $361.98. 1,088,135 shares of the company's stock were exchanged, compared to its average volume of 2,668,688. The company's 50 day moving average is $326.36 and its 200-day moving average is $312.63. The company has a market cap of $141.64 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 2.73 and a beta of 1.17. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the company earned $2.40 EPS. The company's revenue was up 7.3% on a year-over-year basis. Equities analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.